ChemoCentryx (CCXI) Issues Quarterly Earnings Results

ChemoCentryx (NASDAQ:CCXI) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.03, Fidelity Earnings reports. ChemoCentryx had a net margin of 18.69% and a return on equity of 39.31%. The firm had revenue of $8.98 million for the quarter, compared to analysts’ expectations of $11.55 million.

Shares of ChemoCentryx stock traded down $1.65 during trading on Friday, hitting $10.05. 340,471 shares of the stock were exchanged, compared to its average volume of 164,306. The firm has a market capitalization of $603.72 million, a PE ratio of 27.92 and a beta of 1.78. ChemoCentryx has a 1-year low of $5.42 and a 1-year high of $15.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.69 and a quick ratio of 2.69.

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Several equities research analysts have commented on CCXI shares. BidaskClub raised shares of ChemoCentryx from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. ValuEngine raised shares of ChemoCentryx from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of ChemoCentryx in a research report on Monday, August 13th. Canaccord Genuity reissued a “buy” rating and set a $18.00 price target on shares of ChemoCentryx in a research report on Friday, August 10th. Finally, Zacks Investment Research cut shares of ChemoCentryx from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 16th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $16.58.

In other news, insider Markus J. Cappel sold 30,237 shares of the business’s stock in a transaction dated Friday, October 26th. The shares were sold at an average price of $11.01, for a total transaction of $332,909.37. Following the transaction, the insider now directly owns 54,063 shares in the company, valued at approximately $595,233.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas J. Schall sold 7,211 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $12.00, for a total transaction of $86,532.00. Following the transaction, the insider now owns 2,192,205 shares in the company, valued at $26,306,460. The disclosure for this sale can be found here. Insiders have sold a total of 7,380,940 shares of company stock worth $86,264,863 over the last 90 days. 14.50% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of ChemoCentryx by 3.0% during the 3rd quarter. BlackRock Inc. now owns 2,802,721 shares of the biopharmaceutical company’s stock worth $35,425,000 after purchasing an additional 80,783 shares during the last quarter. Wasatch Advisors Inc. increased its stake in shares of ChemoCentryx by 0.5% during the 3rd quarter. Wasatch Advisors Inc. now owns 2,389,254 shares of the biopharmaceutical company’s stock worth $30,200,000 after purchasing an additional 10,991 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of ChemoCentryx by 20.6% during the 3rd quarter. Acadian Asset Management LLC now owns 896,380 shares of the biopharmaceutical company’s stock worth $11,330,000 after purchasing an additional 153,082 shares during the last quarter. Nantahala Capital Management LLC increased its stake in shares of ChemoCentryx by 2.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 615,173 shares of the biopharmaceutical company’s stock worth $8,102,000 after purchasing an additional 14,685 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of ChemoCentryx by 19.7% during the 2nd quarter. Millennium Management LLC now owns 387,875 shares of the biopharmaceutical company’s stock worth $5,108,000 after purchasing an additional 63,763 shares during the last quarter. Institutional investors own 53.18% of the company’s stock.

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About ChemoCentryx

ChemoCentryx, Inc, a clinical-stage biopharmaceutical company, develops new medications for inflammatory and autoimmune diseases, and cancer in the United States. The company targets the chemokine and chemoattractant systems to discover, develop, and commercialize orally-administered therapies. Its lead drug candidate is Avacopan, an orally-administered complement inhibitor of the complement C5a receptor (C5aR), is in Phase III development for the treatment of anti-neutrophil cytoplasmic auto-antibody-associated vasculitis (AAV).